A joint venture has purchased one of the last remaining vacant lots on Biscayne Boulevard and plans to develop a luxury apartment community. Construction is underway on the 3.23-acre parcel located at 11240 Biscayne Blvd. Colliers Julian Zuniga and Gerard Yetming represented the seller, Bianca Investments, in the transaction. The property was purchased for $15 million by a joint venture between Kolter Multifamily and Altman.
The transaction paves the way for the development of Alton Biscayne, a planned luxury apartment community featuring 336 units. This development will comprise a 12-story residential building, a seven-story standalone parking garage, and eight townhome flats within a detached two-story building located along the western property line. Amenities will include a rooftop amenity deck, a golf simulator, arcade room, and saunas.
The project was designed by Cohen Freedman Encinosa and developed by Kolter Multifamily. KAST Construction serves as the general contractor.
The post Scarce Biscayne Shores Lot Sells, 336 Apartments On Way appeared first on Connect CRE.
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